MetaTrader is an FX trading software developed by Metaquartz Software in Russia. From ordering to the settlement of foreign exchange transactions, this software is a high-functional software that can complete trading with one piece of software. The latest version is 5, but because it is not compatible with MetaTrader 4 which led to the popularization of MetaTrader, the previous version 4 is now mainstream, and the transition to 5 is Expect to take more time.
Features of MetaTrader 4
- A major feature of MetaTrader is its various chart functions. The chart function used in combination with the current value of the currency can be used by introducing a program called an indicator. You can display specialized items such as sticks, parabolics, Fibonacci retracements, and create charts that fit your trader’s strategy. And this is the reason why many people use MetaTrader.
- You can make your own indicators. In other words, you can combine the technical indicators and oscillators you want to use and trade with the original indicators. There are many people who use it as an automated trading tool for FX trading because it can also include an alert screen when the currency reaches the specified value and a function to place an order. Backtesting can be done back in time, and automated trading systems can be verified using software introduced in MT4 EA .
- The indicator is considered to be difficult because it is programmed in a unique language called “ Metaquotes Language ”, but this language is similar to the general programming language C, so if you have knowledge of C It is possible to apply. MetaTrader is software that supports FX trading with its high functionality.